Inflation went up in September, but the headlines about 3.7% inflation from the Consumer Price Index (CPI) aren't the only inflation data that people need to know about. A special variety of inflation that gets measured as part of the work of the Bureau of Labor Statistics (BLS) is the CPI-W, or the Consumer Price Index for Urban Wage Earners and Clerical Workers. According to the latest BLS inflation report on Oct. 14, the CPI-W for September rose 3.9% from a year ago. This means prices for urban wage earners went up even more than the overall national average of inflation. The CPI-W is important because it's used for calculating the annual cost-of-living adjustment (COLA) that Social Security beneficiaries receive. Let's look at what the higher inflation for urban wage earners means for Social Security, and what higher inflation in general might mean for your investment portfolio.
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